Research & Analysis

The MAD appreciated this week against the USD for the third week in a row thanks to a liquidity effect of -0.27%. This effect contributes more than 60% to the variation of the USD/MAD pair, which depreciated by -0.44% to 9.86 this week.

At the end of this 1st quarter of 2022, 66 listed companies representing more than 99% of the mar-ket capitalization published their quarterly indicators.

Given the USD decline on the international foreign exchange market as well as the improvement in liquidity conditions in the domestic interbank compartment, we have witnessed a drop in the USD/MAD parity of -1.12 % at 9.90.

The rise of the single currency has supported the appreciation of the MAD against the dollar as the market effect was insignificant.

The USD/MAD parity is strengthening this week at 10.13. Originally, a significant basket effect for the MAD of +1.03% to which is added a liquidity effect of +0.40%.

At the end of this 20th edition, the investors' perception toward the Equity market over the coming 3 months has shifted from the "Assurance" phase to the "Wait and See" phase.

The USD/MAD parity is settling this week at 9.99. This is due to a basket effect for the MAD of -0.18% offset by a liquidity effect of +0.15%. The USD depreciated slightly by -0.03% against the dirham over one Week but remains at 2-year highs.

The USD/MAD pair crossed the 10 threshold for the first time in 2 years last thursday before closing the week at 9.99. The dirham depreciates against the USD for the 5th consecutive week.

The Dirham is depreciating this week against the EUR and the USD for the 4th week in a row. This is due to a restrictive liquidity effect of the MAD of +0.27% and a neutral basket effect.